Over 30 years of retirement, Gibbs would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.
The projection assumes Gibbs received $28,594 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Gibbs will have already received $88,382 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up